Save time, improve your security
MoraBanc makes your supplier management easier by offering to them the service of collecting your invoices upon maturity or financing the payments.
Benefits for your supplier
Instant financing with MoraBanc’s guarantee.
Speed and simplicity
If you manage your file correspondence through the online banking remittance managing service, you will save time and travel.
Savings in procedures
Cost savings for your company, as the Bank covers your supplier payment administration and management.
- Thanks to MoraBanc’s Reverse factoring, you can manage, process and pay your suppliers’ accepted and not yet due invoices, enabling them the option of discounting their invoices.
Additional short-term financing source for your suppliers.
See terms and conditions
- Service tailored to companies of considerable size with a high volume of periodic payments allocated to many suppliers: department stores, superstores, perfumery or sports equipment stores, etc.
Operational system with three main advantages for your company:
- Cost savings, since internal expenses related to supplier payments are covered by the Bank.
- Savings on time and travel, as the commercial paper remittances can be processed through online banking.
- Free service unless you send transfers outside Andorra
Multiple benefits for your supplier:
- Reverse factoring allows your supplier to make advance payments of their outstanding invoices and therefore to obtain short-term financing.
- Flexibility: they can choose to make advance payments of all or some of their invoices.
- Instant financing, since it is your company who provides the collateral.
- MoraBanc acts as a payment guarantor.
- Increase in their debt capacity, being able to do so without commercial discount lines within their financial institution
Application resolution within a maximum period of 7 days, as long as all required documents have been provided.
See required documents
MoraBanc pays the suppliers their invoices’ amount minus the interests and commissions that the Bank has established for each invoice advance at any given time.
The invoices should correspond to purchases, supplies or services chargeable to your company and originating from your ordinary course of business.
Supplier payments can be made into accounts established both inside and outside Andorra.
The Bank has no obligation to accept all the confirmed invoices with which it is provided. It has the ability to reject those invoices it deems appropriate for rejection.
Financing will be subject to assessment and approval by MoraBanc.
Minimum required documentation for the Reverse Factoring
In case of companies with legal entities (public limited companies, private limited companies, etc.):
- Last tax year’s income statement and balance (and provisional financial statements from the current year).
- Accounts audit in case it is mandatory for the company.
You could also be required to present the last Corporate Tax and IGI (VAT equivalent) settlements and your employees’ contributions to CASS in order to verify that the payment of those tax liabilities is up to date.
If needed, the bank will also be able to request additional information in order to carry out a proper asset, economic and financial analysis of your company.
Write to us and we will contact you.
Information on the processing of personal data
In compliance with Law 15/2003 of 18 December on protection of personal data, the customer authorizes that the applicant’s personal data entered on this form will be incorporated into files owned and managed by MORA BANC GRUP, SA – MORA BANC, SAU (hereafter referred to as “MoraBanc”) to process the requested service and, if necessary, to comply with the contracts finally entered into, and also to ensure correct operational procedures.
The applicant expressly authorises MoraBanc to send him/her commercial and promotional communications for products and services and information on the Bank itself, social or other activities, in hardcopy by post or by electronic means (among others, short messages (SMS) to mobile phones, e-mail, etc.). This consent can always be withdrawn, without retroactive effect.
The applicant authorises the data provided to be communicated or shared with third parties forming part of the MoraBanc business group, entities which are primarily active in the financial, insurance and service sectors. The applicant is considered as having been informed of this transfer of information by means of this clause. The applicant accepts that he/she may be sent information on any product or service marketed by these companies.
The data processing manager is MoraBanc. The applicant is hereby informed that the rights of access, rectification, suppression or opposition may be exercised in the terms established in current legislation.
Or call us on +376 88 48 84